The Palm Beach County Board of County Commissioners (BCC), through the Department of Housing & Economic Development (HED) hereby announces the availability of $7,891,211 in HOME Investment Partnership – American Rescue Plan (HOME-ARP) funding for the development of multifamily rental housing units, permanent supportive housing, and residential facilities that will serve Qualifying Populations.
HED will begin accepting applications for funding on
June 12, 2023 at 9:00 a.m. at the HED offices located at 100 Australian Avenue, Suite 500, West Palm Beach, FL 33406. Applications will continue to be accepted up until all HOME-ARP funding has been awarded to eligible projects. A virtual technical assistance workshop was held on Monday, May 22, 2023 at 9:30 am. Below is the presentation and Q&A asked at the webinar:
Applicants will be funded on a first-come/first-eligible/first-funded basis.
ELIGIBLE PROJECTS: Eligible projects are limited to: a) new construction of multifamily housing, including redevelopment; and b) acquisition and rehabilitation of existing residential properties and conversion of non-residential properties into housing and residential facilities for facilities for Qualifying Populations. For the purpose of this NOFA, multifamily is defined as five (5) or more residential units located on one single property under common ownership.
All projects must result in the creation of additional inventory of housing and/or residential facilities serving Qualifying Populations including the homeless; at-risk of homelessness; fleeing domestic violence, sexual assault, or human trafficking; and at-risk of housing instability.
Eligible uses include permanent rental housing, permanent supportive housing, transitional housing, and non-congregate shelter.
are not eligible for funding under funding through NOFA HED.2023.1. All projects must be completed and in service within three (3) years of funding award.
AVAILABLE FUNDING: A total of $7,891,211 in HOME-ARP funds is available under this NOFA.
New Construction of Multifamily Housing – Funding will be provided in the form of a low-interest loan. Loans will require repayment of all principal and interest.
- Acquisition/Rehabilitation of Existing Projects – Funds may be provided in the form of a forgivable loan or a low-interest loan. Forgivable loans will bear no interest and requires no payment of debt service. Contingent on successful compliance with all HOME-ARP requirements, the full amount of the loan principal will be forgiven at the conclusion of a thirty (30) year loan term.
ELIGIBLE APPLICANTS: Housing developers/owners, including for-profit and not-for-profit organizations, public agencies and partnerships between the same eligible to receive funding through this NOFA.
PROJECT LOCATION: The HOME-ARP Housing Program is a countywide program. Projects can be located within any municipality or unincorporated area of Palm Beach County. For projects located with the municipal boundaries of the city of West Palm Beach, the municipality must make a financial contribution to the project.
OCCUPANCY AND AFFORDABILITY REQUIREMENTS:
- New Construction of Multifamily Housing – Projects may receive funding for all housing units within a project, or may receive funding for only a subset of the total number of units in the project. Up to 30% of the number of HOME-ARP assisted units may be restricted for occupancy by tenants at or below 80% AMI and the balance of the assisted units must be restricted for occupancy by Qualifying Populations.
- Acquisition/Rehabilitation of Existing Projects – All housing units within an Acquisition/Rehabilitation project will be considered HOME-ARP assisted units and must be restricted for occupancy by Qualifying Populations.
All HOME-ARP funded housing units will bear affordability requirements of the HOME-ARP Program for no less than thirty (30) years.
QUALIFYING POPULATIONS: HOME-ARP funds must be used to benefit individuals and families in specified Qualifying Populations: 1) Homeless; 2) At-Risk of Homelessness; 3) Fleeing Domestic Violence, Sexual Assault, or Human Trafficking; and 4) At-Risk of Housing Instability.
LEVERAGING: The minimum award under this NOFA is $250,000. There is no maximum amount of HOME-ARP funds that can be requested. All projects must demonstrate a minimum 25% match from non-County development funding sources.
IMPORTANT DEADLINES: The following deadlines will be strictly adhered to:
- Applications were accepted starting Monday, June 12, 2023 at 9:00 am.
- Applications continue to be accepted until all funding has been awarded.
- Funded projects must be completed within three (3) years from the date of the funding award.
The funding application is located HERE.
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Comuníquese con HED al (561) 233-3600.
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Kontakte HED nan (561) 233-3600.
IN ACCORDANCE WITH THE AMERICANS WITH DISABILITIES ACT (ADA), THIS AD AND DOCUMENTS LISTED ABOVE MAY BE REQUESTED IN AN ALTERNATE FORMAT.
PLEASE CONTACT HED AT (561) 233-3600.